Dangote Moves To Crash Cement Prices

Posted by Unknown On Friday, May 9, 2014 0 comments
The Chairman of Dangote Group of Companies, Alhaji Aliko Dangote, has requested for a 50,000-hectare of land in Niger to enable the company to cultivate rice and sugarcane. He made the request on Friday in Minna when he visited Gov. Babangida Aliyu at his residence. He said ``my visit here is about a rice industry that we want to set up. ``We are looking at investing in the state. It is not only my company, but also an out-grower system so that we would be able to empower people.’’ Dangote, however, said that the company’s investment plan for commercial farming would depend on the land it would get, with the company providing 70 per cent of the investment, while out-grower farmers account for 30 per cent. The business mogul described the state as the most conducive for farming ``because of its abundant land and good soil for rice and sugarcane cultivation. ``Niger State is a place to do lots of rice because it has good land and fertile soil for rice cultivation and water is available. ``If we can have anything over and above 50,000 hectares, then the investment will be in billions. ``It is a way of taking people out of poverty and taking them to the next level, which is the middle class or above the average so that we can reduce the pressure on government.’’ He then expressed the hope for good partnership with the state government and the out-grower farmers. Responding, Gov. Aliyu assured him of the state government’s response to his request for the land in the next three weeks. He expressed happiness over the company’s investment plan in the state. (NAN)The President of Dangote Group, Alhaji Aliko Dangote said that nine million tonnes of cement have been released into the market to stem the escalating cost of the product.
Dangote, who disclosed this to newsmen on Friday at the premises of Obajana Cement Company in Kogi State, said that the move was to make the product available in all parts of the country and stabilise its prices in the open market.
The businessman, who spoke after conducting the visiting President of Tanzania, Dr Jakaya Kikwete on a facility tour of the the plant attributed the scarcity of cement in recent time to low production between January and March.
He said the low production followed the yearly turn around maintenance of the plants at Ibeshe, Obajana and other parts of the country.
He assured Nigerians that the prices of cement will drop to its normal price of between N1, 450 and N1, 550 very soon.
Dangote said that the president of Tanzania was at the cement plant to see things first hand and to enable him have a fore taste of what a cement plant the company was replicating in his country.
He said the plant, being established in Tanzania at a cost of 600 million dollars, would have the capacity to produce three million tonnes of cement per annum.
According to him, construction work at the plant has reached 30 per cent completion stage and work is being intensified to ensure its completion and inauguration in 2015.
In his remarks, President Kikwete said that he took time off the World Economic Forum holding in Abuja to visit the plant to have an idea of what his country would experience after the completion of the plant.
He described what he saw as “wonderful,’’ saying that his country was looking forward to seeing the same or better facilities.
He said the visit had further convinced him that Tanzania had a great partner in Dangote. (NAN)
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